I would say firstly that this is probably not aimed at professionals but at us happy snappers who are just on a day out; if you're serious about photography you'll no doubt have a DSLR and proper tripod, so might not find much use for this.
OK here's the low-down, the compact Gorillapod is about 16cm long which means you can't wrap it round lamposts, the DSLR Gorillapod however is 26cm long so should have no problem. It has a quick release plate which you can leave attached to your camera then just clip it into the Gorillapod when you need to, there's a locking ring to stop the QR plate detaching. It's amazingly flexible, you can tilt it, twist it and bend it into all shapes and attach to many things and the feet and along each leg are silicon coated to help prevent slipping.
As it's small and lightweight it fits in my pocket whilst out. I usually go hill walking alone and I've found this to be useful when I'm out as I can set my camera up on a fencepost, rock or tree stump and be in the photo for a change. I've used it with a Lumix TZ6 and Kodak Zi6 with no problem. Some people have experienced instability because the camera mounting point is offset, the TZ6 mounting point is offset however you just need to adjust the Centre of Gravity by bending the legs to correct this, simple physics really.
Overall I think this is a useful gadget for us happy snappers and worth the money.